Please need help with lloyds....loans-only.co.uk took 'fee' money

[meg&mog]

Hi guys

 

Got a bit of an issue my husband received a text the other day offering him a too good to be true loan

and he stupidly applied for it I knew nothing about this until all of this happened beause I would have smelt a rat

 

he applied they asked for his bank details just to confirm his identity

they said he didn't even find it funny when they asked for his 3 digit security code

(he doesn't come on cag and is not nearly as knowledgeable as me about this stuff)

 

the following day a company called "Loans-only.co.uk" took £67.88 out of our bank

they were of course a broker and it is not the same company name my husband received the text from

 

We contacted lloyds who said they can do nothing until the transaction is completed which it has today

they are now saying that we have to give this company 14 days to refund it

 

we just keep getting the same automated response from them saying

 

"we know you want your money back but we have found you 2 loans"

 

Lloyds have told my husband This morning that not only are they not bothered that nearly 70 of our child's tax credit money was taken

but that the company can now take what they like when they like because my husband has given them permission

 

he said he would like to now refuse that permission they said no sorry nothing we can do

 

Is this right? Please help

[dx100uk]

hi ya

 

Lloyds are wrong

hone up and do a chargeback

 

and invoke the DPA

 

see below:

 

GENERAL NOTES ON CHARGEBACK & Continuous Payment Authority & BACS

.....

We have been telling people to put a letter into their bank instructing them

not to make any payments under any circumstances to these companies

.

http://whatconsumer.co.uk/visa-debit-chargeback/- it works!

.

banks MUST follow written intructions from their customers !

.

This fsa guideicon has now been updated:

.

http://www.fsa.gov.uk/pubs/consumer_...ghts_guide.pdf

.

Here's the text:

.

Cancelling a regular

card payment:

.

When you give your credit or debit card details to a company and authorise them to take regular payments from your account,

such as for a gym membership or magazine subscription,

it is known as a ‘recurring transaction’ or ‘continuous payment authority’.

.

These are often confused with direct debits, but do not offer the same guarantee if the amount or date of the payment changes.

.

In most cases, regular payments can be cancelled by telling the company taking the payments.

.

However,

you have the right to cancel them directly with your bank or card issuer by telling it that you have stopped permission for the payments.

Your bank or card issuer must then stop them – it has no right to insist that you agree this first with the company taking the payments.

.

Be aware, though, that you will still be responsible for paying any money that you owe.

and that CANELLING YOUR CARD WILL NOT STOP THE CPA

.

see:

http://www.consumeractiongroup.co.uk...-Viewing)-nbsp

.

http://www.fsa.gov.uk/pages/consumer...ng/index.shtml

.

http://www.theguardian.com/money/201...?newsfeed=true

..

.

New june 2013

.

Regulator orders Banks and mutuals to review complaints about not cancelling recurring payments from November 2009.

.

Consumers who have set up a regular payment from their account will now be able to successfully cancel that arrangement

by contacting their card provider, the Financial Conduct Authority said.

.

The FCA has been examining how easy it is for customers to cancel Continuous Payment Authorities (CPAs)

due either to payday lendersicon or for other regular payments such as subscriptions or gymicon memberships.

.

CPAs, which are also commonly called recurring transactions or recurring payments,

are relatively easy to set up but can be hard to cancel, causing problems for consumers trying to manage their finances,the FCA said.

.

Now, following the FCA review of how the largest high street banks and mutuals process requests to cancel CPAs, they have agreed that they will ensure that when

a customer asks for a recurring payment to end, that will be sufficient to cancel the arrangement. They have also confirmed that should a payment go through by

mistake following cancellation by a customer the customer will be refunded immediately.

.

In addition to securing this commitment, the largest banks and mutuals have agreed to review every individual complaint they have received about the non-

cancellation of a CPA and to pay redress where payments have continued to be made despite the customer cancelling the arrangement. This applies to all complaints

since November 2009 when the Financial Services Authority, the FCA’s predecessor, began regulating banking conduct.

.

Clive Adamson, the FCA’s director of supervision, said: “It’s important that consumers are confident that banks are meeting their everyday banking needs. Today

customers can be confident that when they ask for a Continuous Payment Authority to be cancelled – it will be cancelled - and that it can be done easily.

.

“We recognise that historically this is an area where some customers have struggled but the banks and mutuals have responded positively to our work on this issue.

From now on we expect them to be getting this right. In addition, they have committed to review past complaints.”

.

http://www.ftadviser.com/2013/06/28/...J/article.html

.

Also mentioned your displeasure that as whomever took your money had obviously attempted this many times

probably activating your banks own anti fraud software - nobody had the decency to inform my you this was going on.?

.In the FSA's own words:

.

..

What should I do about a payment from my account that I didn’t authorise?

.

Your bank must refund an unauthorised transaction.

Money can only be taken from your account if you have authorised the transaction

or if your bank can prove you were at fault –

see below.

Contact your bank immediately if you notice an unauthorised payment from your account.

If you are sure you did not authorise the payment, you can claim a refund.

However, your bank does not have to refund you if you do not tell it about the payment until 13 months

or more after the date it left your account.

.

Your bank must refund an unauthorised transaction

.

------------------

.

Your bank may only refuse a refund for an unauthorised transaction if:

.

? it can prove you authorised the transaction

– though your bank cannot simply say that use of your password,

card and PIN proves you authorised a payment; or

? it can prove you are at fault because you acted fraudulently,

or because you deliberately,

or with gross negligence, failed to protect the details of your card, PIN or password in a way that allowed the transaction

.

-----------------------

.

How quickly must my bank refund me for an unauthorised transaction?

.

The bank must make the refund immediately unless it has evidence that one of the above reasons applies.

Your bank may ask you to answer some questions and fill out a form confirming what has happened,

but it cannot delay your refund while it waits for you to return the form.

If the bank has evidence that one of the above reasons for refusing a refund applies,

it may investigate before making a refund

but must look into it as quickly as possible.

If your bank rejects your claim for a refund it should explain why.

If the transaction was on a credit card, the refund may not happen immediately.

But the card issuer cannot charge interesticon or ask for repayment of the amount unless it can prove you are liable to pay

[/b]

These are your statutory rights under FSA regulations. They are not guidance.

.

if you did it by your banking portal:

.

then follow this:

.

http://www.consumeractiongroup.co.uk...73#post4534173

 

dx

[meg&mog]

Hi Dx

 

Thanks for reply it is still ongoing hubby has rang lloyds back they are now wanting the email proof that this company have said we know you want a refund but we have found you 2 loans they have however agreed to stop them taking any more money out of our bank

 

I will update as soon as I can

 

Thanks again

[dx100uk]

tell them if your chaggebac/CPA is not honoured you with report them too & phone the FCA

 

there are clear guidelines now they have issued.

and banks have been told to stamp out this practice

 

and prevent these firms from fleecing people

[meg&mog]

Thanks Dx

 

Here's a text message my hubby just sent me don't know if it makes any difference

 

Did you tell cag that I went on one website and that website which said was free gave my details to another website and it's them who took our money the bank are saying because I looked for a loan with the first website then there is nothing they can do

 

Thanks again

[dx100uk]

WRONG

 

do a chargeback/CPA

[citizenB]

You might want to contact, Trading Standards, Financial Conduct Authority and Action Fraud about this.

[Klandestine]

Getting your money back might prove to be more difficult than the other posters are making out - Your husband gave his card details to this loan broker so from the banks point of view it appears as though he knowingly payed for services to this company.

 

If he knowing paid for their services then the bank can't perform a chargeback unless there has been some kind of breach of contract from the loan broker.

 

If you're saying he was tricked into providing his card details to the loan broker then you'll need to at least inform the bank of what exactly happened.

 

To stop any more money from being taken then you should write to the bank saying that you are withdrawing your consent to make payments to this company. This makes the bank liable to refund any subsequent payments which might get taken from your account by this company.

[renegadeimp]

Klandestine. Please research unfair contract terms, FOS guidance on hidden charges and also payment regulations 2009.

[Klandestine]

Klandestine. Please research unfair contract terms, FOS guidance on hidden charges and also payment regulations 2009.

 

Well the contract is between the OP's husband and the loan broker so any unfair contract terms are not relevant when asking your bank to initiate a chargeback - that's beyond the scope of the Visa Operating Regulations.

 

I can't find any reference to the FOS guidance on hidden charges. Can you provide me with a link?

 

I think you mean the Payment Services Regulations. And I am well aware of them.

 

What exactly are you asking me to research? Is there something in particular which you don't like/don't agree with/think might be incorrect in my original post?

[meg&mog]

Hi all

 

Thanks for all replies

 

I know on the face of it it looks like my husband made a stupid mistake and we should just suck it up and I have said to him words to that effect but he is insisting that he recieved a text from a company stating they were offering a free service he never heard of or had any contact with "loans-only.co.uk until they showed up on our pending transactions the following day having taken £67.88 from our bank

 

When you visits "loans-only.co.uk" website it comes up in big bold writing "one off membership dee of £67.88" he is a little naive but he's not that stupid he would never have agreed to that the original company who contacted him were either a cover for the real company or they passed on out details my husband ticked the box that said no 3rd party contact to me this is fraud

 

The bank are now saying they need to investigate that could take 2 weeks they have at last agreed to stop this company being able to take anymore money from our bank they have asked for email proof of the company saying they know we want a refund they have recieved that

 

My husband did contact the FSA about this who said this loan company was not registered with them our point is this transaction was fraudulent my husband had no contact whatsoever with the company that ended up helping themselves to our money I believe that is fraud and I believe the bank should help

 

Thanks again guys I will keep you all informed

[citizenB]

So the FCA are saying that this company is not registered ?

[meg&mog]

Hi CitizenB

 

Yes that's right the guy on the phone told my hubby that the number he have for this company was attached to another buisness

 

Thanks

[meg&mog]

Hi guys

 

Bit of an update still not had a refund either from this company or the bank

 

Had a email from the company this morning saying that since I am accusing them of fraud I need to fine them the incident number the police have me when I reported it and also give them a list of people who have access to our bank account

 

I think they are trying to stall me hubby is going to ring the bank again today

[renegadeimp]

Im surprised you havent had a chargeback from the bank yet.